The three most frequent misconceptions are that net income equals cash, net income excludes estimates, and net income reports all changes in value that occurred during the accounting period.
One of the three crucial financial statements used to describe a company's financial performance throughout a certain accounting period is the income statement. The balance sheet and the cash flow statement are the other two important statements. The income statement, which is often referred to as the profit and loss (P&L) statement or the statement of revenue and expense, primarily focuses on the company's revenue and expenses over a specific time period. Understanding how to study an income statement is the greatest approach to evaluate a business and choose whether or not to invest.
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What is an enterprise system application suite? describe the capabilities of the individual components of the application suite.
An application suite is a group of intra-company ERP systems and associated inter-company solutions. Suite providers, like SAP and Oracle, offer comparatively thorough sets of apps with a tonne of functionality that cover the majority of common business activities.
What is Enterprise system application suite?
Computer software used to meet the needs of an organisation rather than specific consumers is referred to as enterprise software, sometimes known as enterprise application software (EAS). Businesses, schools, interest-based user groups, clubs, charities, and governments are a few examples of these organizations. Enterprise systems, supply chain management systems, customer relationship management systems, and knowledge management systems are the four main enterprise applications.
An application suite is a group of intra-company ERP systems and associated inter-company solutions. Suite providers, like SAP and Oracle, offer comparatively thorough sets of apps with a tonne of functionality that cover the majority of common business activities. Supply chain management links a business to other businesses that provide the raw ingredients used in product manufacturing.
Systems for managing supply relationships typically oversee all interactions with suppliers. Systems for managing client relationships give businesses the ability to handle marketing, sales, and customer support. Systems for managing the product lifecycle assist businesses in managing the activities of product management, design, and research.
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An enterprise system application suite is a comprehensive software system that provides a wide range of capabilities to an organization. These capabilities are typically designed to support various business functions such as finance, human resources, procurement, and supply chain management. The individual components of an enterprise system application suite are designed to work together seamlessly, providing a comprehensive set of tools that can help an organization to manage its business operations more effectively.
The individual components of an enterprise system application suite typically include:
1. Financial Management: This component is designed to help organizations manage their financial transactions, including accounts payable, accounts receivable, general ledger, and financial reporting.
2. Human Resources Management: This component is designed to help organizations manage their employee data, including payroll, benefits, and performance management.
3. Procurement Management: This component is designed to help organizations manage their purchasing activities, including requisitions, purchase orders, and supplier management.
4. Supply Chain Management: This component is designed to help organizations manage their supply chain activities, including inventory management, order fulfillment, and logistics.
Overall, an enterprise system application suite provides a comprehensive set of tools that can help arenizations to streamline their business operations and improve their overall efficiency.
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True or false? friction can be used to describe challenges that hold back your internal teams as well as challenges that hold back your customers
'The Statement is True.
Friction can be used to describe challenges that can hold back your internal teams as well as challenges that hold back your important customers.
The concept of business friction is not come to be new since it is anything that can prevent and dissuades each and every customer from buying your desired products as well as services. On behalf of the customers, friction can be considered as very long wait times for the activity of holding and those particular products that are in a number of out of stock or having any kind of bad experience with a website of a specific company.
In order to remove friction internally, you need a clear evaluation of how teams gonna work together, processes their work, and how accessed data flows. It can remove all kinds of obstacles that can prevent us from getting any critical stuff to be done. We should have a look both at how a business runs well and the one who is running any business.
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On june 15 blooming landscape inc. provides $50,000 of services, but is not paid until august 30. on august 30, the assets of blooming landscape inc. are:_________
On june 15 blooming landscape inc. provides $50,000 of services, but is not paid until august 30. on august 30, the assets of blooming landscape inc. are Unearned revenue.
What is Unearned revenue?
Money received by a person or company for an item or service that has not yet provided or given is known as unearned income. It may be thought of as a "prepayment" for goods or services that a person or organization anticipates giving the customer in the future.
Therefore,
On june 15 blooming landscape inc. provides $50,000 of services, but is not paid until august 30. on august 30, the assets of blooming landscape inc. are Unearned revenue.
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Under armour's recent expansion into the digital personal health and fitness tracking market through acquisitions of three fitness app companies is a ________ strategy.
Under Armour's recent expansion into the digital personal health and fitness tracking market through acquisitions of three fitness app companies is a Diversification strategy.
The process of diversification involves investing in a range of various assets. Diversification tries to lower an investment portfolio's overall risk without lowering its potential returns.Concentric diversification is the creation of new goods and services that are interchangeable with those you presently market. For instance, an orange juice company introduces a brand-new "smooth" orange juice beverage alongside their flagship orange juice "with chunks."What three benefits does diversity offer?Diversification lowers risks, evens out returns, and enhances portfolio performance over the long run.To Learn more about diversification, Click the links.
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If an adjusting entry for unearned revenue is not recorded, what is the effect on the financial statements?
If an adjusting entry for unearned revenue is not recorded the effect of financial statement would be understatement of revenue and overstatement of liabilities.
An adjusting entry is the entry that is posted after the posting of journal entries, the entry is recorded to post or adjust the balances for current transactions.
Unearned revenue is the amount that is received as a prepayment but is not yet earned means the services or goods are not yet delivered. Prepayments are debited and unearned revenue is credited as a liability. The adjusting entry of unearned revenue appears when the goods or services are delivered to the customer. It may be partial or complete.
Therefore the adjusting entry is debit unearned revenue and credit revenue.
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The portion of a change in quantity demanded caused by a change in price that makes other products more or less costly.
The portion of a change in quantity demanded caused by a change in price that makes other products more or less costly is substitution effect.
A shift along a demand curve is used to illustrate a change in quantity demanded. The elasticity of demand, which is correlated with the slope of the demand curve, is the ratio of the change in quantity required to a change in price.
The substitution effect is the decline in sales of a product that results from customers switching to less expensive substitutes when the price of the product increases. Although there are numerous possible reasons why a product loses market share, the substitution impact is only a reflection of thriftiness. A brand’s price increase may cause some customers to choose a less expensive substitute.
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The cost to lay off an employee is what percent of the hiring cost for that level?
The cost to lay off an employee is what percent of the hiring cost for that level is 30-50 percent.
What is the cost of hiring?Finding the ideal employee can be expensive in and of itself. Business consultant Bill Bliss, president of Bliss & Associates Inc., claims that the hiring process alone might have a number of high potential expenses.
These include the time spent advertising the position, the time spent by an internal recruiter, the time spent by the recruiter's assistant reviewing resumes and carrying out other tasks related to recruitment, the time spent by the person conducting the interviews, the time spent on drug tests and background checks, and the cost of various pre-employment assessment tests. Even a $8/hour employee might wind up costing a business $3,500 in turnover expenses, both direct and indirect. Not every new hiring will require the same procedure.
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In a competitive market, the market demand is qd = 400 - 5p and the market supply is qs = 10p - 80. the full economic price under a price ceiling of $25 is:_________
In a competitive market, the full economic price under a price ceiling of $25 is $170.
Given,
QS = Quantity supplied
QD = Quantity demanded
P = Price
At P = $25
Thus,
QD = 400 - 5P
QD = 400 - 5(25)
QD = 400 - 125
QD = $275
The market supply is QS = 10p - 80
QS = 10 (25) - 80
QS = 250 - 80
QS = $170
Hence, in a competitive market, the full economic price under a price ceiling of $25 is $170.
A price ceiling keeps a price from rising above a certain level. Price ceilings is used by government to protect consumers from conditions that could make commodities prohibitively expensive.
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Capital needed for company activities cannot be acquired through: ______
a) stocks and bonds
b) current debt profits
c) arbitrarily firing employees
Correct option is C. Capital needed for company activities cannot be acquired through arbitrarily firing employees.
What is meant by at-will employment?
At-will employment is defined by US labor law as the right of an employer to fire an employee without cause (i.e., without having to provide "just cause" for termination) and without prior notice, so long as the reason is legal (e.g., not firing an employee due to their race, religion, or sexual orientation).
Courts reject any claims for damages resulting from a dismissal where an employee is recognized as having been hired "at will." The practice is viewed as unjust by people who believe that the work relationship is marked by an imbalance of bargaining power because an employee may also be entitled to quit their job without cause or notice.
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3) mario's home systems has sales of $2840, costs of goods sold of $2180, inventory of $508, and accounts receivable of $432. how many days, on average, does it take mario's to sell its inventory?
84.84 days take Mario's to sell its inventory.
What is meant by Inventory?All the goods, merchandise, and supplies that a company keeps on hand in anticipation of selling them for a profit are referred to as inventory.
The products and materials that a company keeps on hand with the intention of reselling, producing, or using them are referred to as inventory or stock. The main focus of inventory management is determining the location and shape of stocked commodities.
Data given in the question:
Sales = $2,880
costs of goods sold = $2,220
Inventory = $51
Accounts receivable = $436
Now,
Time taken to sell inventory = 365 ÷ ( Inventory Turnover Ratio )
also,
Inventory Turnover Ratio = [ Cost of goods sold ] ÷ [ Average inventory ]
= $2,220 ÷ $516
= 4.3023
Therefore,
Time taken to sell inventory = 365 ÷ 4.3023
= 84.84 days
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7. Informative/Explanatory
As a member of a school service
organization, you have heard several proposals on how to
best support a community food bank. All of the proposals are
worthwhile, but your organization has limited dollars and
volunteer hours available for the project. How would you
suggest your organization should proceed in order to make
the best decision? Write one or two paragraphs explaining
your approach and how it would help in the decision-making
process.
Answer:
WHat question
Explanation:huh
Who will obtain the goods and services produced in a market system depends on customer preference and available resources.
What is a market system?Although there may be some central planning or government interference, this phrase typically denotes a more generally market-oriented economy.
Adam Smith, David Ricardo, and Jean-Baptiste Say were among the classical economists who built the theoretical framework for market economies.
These traditional liberal proponents of the free market held that, in general, the profit motive and market incentives led economic decisions in more productive and efficient directions than did government economic planning.
Based on consumer preferences for various items and the profits that firms seek to make on their investments, buyers and sellers willingly agree on the conditions of these transactions.
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Staffing fluctuations associated with project completion and initiation are most likely to occur in organizations that are?
Staffing fluctuations associated with project completion and initiation are most likely to occur in organizations that are functionally structured.
Some businesses choose a functional organizational structure to better coordinate teams. Decisions and operations are handled by functional departments with specific areas of expertise.
Functional structure is a sort of business structure that arranges a corporation into separate departments depending on areas of expertise. Functional managers or department heads are responsible for managing these departments, which act as functional units. Team members in each department communicate the state of their functional areas to department leaders, who in turn communicate it to the company's senior management.
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If doubling all inputs increases output by 70 percent, what can you conclude about the shape of the long-run average cost curve?
We can conclude that the long-run average cost curve is going downwards.
What do we mean by long-run average cost curve?The long-run average cost curve depicts the long-run cost of producing each quantity when the firm can choose its amount of fixed costs and thus which short-run average costs it prefers. The long-run average cost curve depicts the long-run total cost of producing a given level of output.When the scale of production is increased, average costs fall, production becomes more efficient, and a company's market competitiveness improves. This can result in lower prices as well as higher profits, which can benefit both consumers and producers—this is known as a positive-sum game.As, it is given in the description itself that when the scale of production is increased, average costs fall, production becomes more efficient, and a company's market competitiveness improves.
We can conclude that the long-run average cost curve is going downwards.
Therefore, we can conclude that the long-run average cost curve is going downwards.
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Products sold on alibaba's website to foreign countries may be subject to taxes, or _____.
Products sold on Alibaba's website to foreign countries may be subject to taxes, or tariffs
This is further explained below.
What are Tariffs?Generally, Alibaba Group Holding Limited, more often referred to simply as Alibaba, is a Chinese multinational technology business that specializes in e-commerce, retail, the Internet, and technology.
Alibaba is under the umbrella of Alibaba Group.
Tariffs offer a pricing advantage to locally produced items over comparable goods that are imported, and they generate income for governments.
Tariffs give locally produced goods an edge over identical goods that are imported. One of the outcomes of the Uruguay Round was the pledges made by nations to lower their tariffs and to "bind" their customs duty rates to levels that are difficult to increase.
In conclusion, Products that are purchased through Alibaba's website and sent to countries outside of China may be subject to taxes or customs.
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complete question
Products sold on Alibaba's website to foreign countries may be subject to taxes, or _____.
a. currency devaluation.
b. trade deficits.
c. tariffs.
d. bills of lading.
Identify the necessary ingredients of virtuous, level iii, stage 6 moral leadership.
Identify the necessary ingredients of virtuous, level iii, Motives; means; consequences
What is Moral leadership?
A leader who practises moral leadership does so in a way that upholds high moral standards, selflessness, and integrity. A built-in ethical framework and moral purpose direct decision-making in moral leadership. Moral leaders seek to lead and inspire others by setting an example and establishing moral goals. They are self-disciplined, caring, and responsible. A healthy organisational culture is fundamentally based on proper workplace ethics. A company that has an established code of ethics has the benefits of motivated staff and improved performance. Business executives who act ethically transition to moral leadership. In professional ethics, moral leadership places a strong emphasis on integrity, dependability, and honesty. Such a leader doesn't misuse their position; they are fair, impartial, and willing to put the needs of the company before their own.
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Starting at long run equilibrium, ceteris paribus, a decrease in the costs of widely used factors of production would most likely:_____.
Starting at long-run equilibrium, ceteris paribus, a decrease in the costs of widely used factors of production would most likely increase short-run aggregate supply.
What Is Equilibrium?Prices must be stable due to a balance between market supply and demand. This is the state of equilibrium. As opposed to a shortage or undersupply, which raises prices and lowers demand, a surplus of goods or services typically results in lower pricing, which increases demand.
The equilibrium price is the one where supply and demand are balanced. The forces of supply and demand are essentially equal, and the market is in equilibrium when a major index experiences a period of consolidation or sideways movement. According to economists, price changes are typically close to the equilibrium values. Market dynamics will encourage sellers to enter if the price increases excessively.
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After diocletian, a true money economy would not return to continental europe until?
After diocletian, a true money economy would not return to continental europe until 1Oth century.
The Crisis of the Third Century came to an end under Diocletian's rule, stabilizing the empire.
Diocletian created the largest and most bureaucratic government in the empire's history by separating and expanding the civil and military services as well as the provincial divisions. As opposed to the customary capital at Rome, he erected new administrative centers in Nicomedia, Mediolanum, Sirmium, and Trevorum. He fashioned himself as an autocrat, elevating himself above the common people of the empire with imposing forms of court ceremonial and architecture, building on movements toward absolutism from the third century. The state's expenses soared due to the expansion of the bureaucracy and military, ongoing elections, and construction projects, necessitating a thorough tax overhaul. Imperial taxation was standardized, made more fair, and generally imposed at higher rates starting at least in 297.
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Current market prices reflect all relevant information, whether it is known publicly or privately. True or false?.
True. Current market prices reflect all relevant information, whether it is known publicly or privately.
What does strong-form efficiency mean?Strong form efficiency is the strictest interpretation of the efficient market hypothesis (EMH) investment theory, which claims that a stock's price takes into account all available information, whether it is public or private. Strong form efficiency advocates contend that even access to insider information cannot benefit an investment.
No matter how much study or information investors have access to, this level of market efficiency indicates that profits above typical returns cannot be realized. The majority of instances of strong form efficiency involve insider knowledge. This is due to the fact that the EMH's strong form efficiency is the sole component that incorporates confidential information.
Contrary to popular opinion, the idea contends, that possessing inside information won't help an investor achieve large market returns.
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3. how would you classify the risks embedded in the financial crisis of fall 2008 within each of cross-classification?
The risks of the fall 2008 financial crisis include credit risk, bankruptcy risk and interest rate risk. Now classify these risks as pure or speculative. Non-diversifiable and diversifiable.
A financial crisis is one of many situations in which some financial assets suddenly lose a large portion of their face value. In the 19th and early 20th centuries, many financial crises were associated with bank panics, and many recessions coincided with those panics.
A financial crisis occurs when the value of a financial instrument or asset drops significantly. As a result, businesses are struggling to meet their financial obligations and financial institutions lack sufficient cash or convertible assets to fund projects and meet immediate needs.
The financial crisis of 2007-2009 started a few years ago when looser monetary policy and lax credit standards fueled a housing bubble.
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Naples corporation has an unfunded pension liability of $327 million that must be paid in 16 years. what is the present value of this liability at a discount rate of 6.24 percent, compounded annually?
The present value of this liability at a discount rate of 6.24 percent, compounded annually is $124.15 million
What is unfunded pension liability?
Unfunded pension liability is the extent by which the pension liability of the company exceeds its pension assets, in other words, unfunded pension liability is the pension liability payable in 16 years minus pension asset.
In this case, we can determine the present value of the liability using the present value formula of a single cash flow as shown thus:
PV=FV/(1+r)^N
PV=present value of the liability due in 16 years=unknown
FV=the amount of future liability= $327 million
r=discount rate=6.24%
N=number of years before the future liability becomes due=16
PV=327/(1+6.24%)^16
PV=$124.15 million
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In the communication process, a receiver assigns meaning to the symbols encoded by a company in its advertisements through a process known as:_________
Decoding is the phase of communication where the receiver gives meaning to the signals encoded by the sender.
Communication is a two-way process where the message is conveyed between two or more people in the form of ideas, emotions, feelings, and opinions with the aim of establishing a common understanding. Simply put, communication is the process of transferring intentional knowledge and comprehension from one person to another. The process of communication is dynamic and starts with the sender thinking thoughts. The sender then sends the message to the receiver through a channel, who then responds with a message or signal within the allotted time limit.
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Company's beginning accounts payable is $1,000. it had a $10,000 of purchases on account and paid $7,000 of the amounts owed. the accounts payable ending balance equals a _____ balance
Company's beginning accounts payable is $1,000. it had a $10,000 of purchases on account and paid $7,000 of the amounts owed. the accounts payable ending balance equals a $4,000 credit.
What Does AP (Accounts Payable) Mean?Accounts payable (AP), often known as "payables," are short-term debts due by a business to its suppliers or creditors that have not yet been settled. On a company's balance statement, payables are shown as a current obligation. Another, less common meaning of "AP" is the business unit or division in charge of processing the company's payments due to suppliers and other creditors. AP is a significant component of a company's balance sheet. If AP rises over a previous period, it indicates that the corporation is using credit more frequently than cash to purchase the more products or services. If a business's AP declines, A considerable degree of cash flow manipulation by management is possible through AP. The length of time it takes for the company to settle all outstanding AP accounts, for instance, can be increased by management if it needs to enhance cash reserves for a specific time.
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The key question examined by strategic management is ________
The key question examined by strategic management is: Why do some succeed. The correct option is B.
The Strategic management is the procedure of planning, application, and analyzing strategies in order to achieve the long-term objectives and goals of an organization.
It involves analyzing the overall factors internal and external environment, planning and taking decisions, and then doing allocation of resources to put the organization in a competitive and sustainable position.
The strategic management monitors and assess the progress and effectiveness of the question that why do some succeed.
Thus, the ideal selection is option B.
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The complete question might be:
The key question examined by strategic management is ________ select one: a. why do some firms fail?
b. Why do some succeed?
When goods are delivered to a buyer via a common carrier, such as a trucking line, it is known as ________.
When goods are delivered to a buyer via a common carrier, such as a trucking line, it is known as a common-carrier delivery contract.
What is a common carrier?A common carrier is a person or business that transports products or people on behalf of another person or business and is liable for any potential loss of the goods during the course of the transportation. In some civil law systems, a common carrier is referred to as a public carrier. A regulatory body that typically has been given "ministerial authority" by the legislation that created it issues a common carrier with a license or other authority to provide its services to the general public. As long as it stays within the parameters of the enabling legislation, the regulatory body is free to formulate, interpret, and enact regulations against the common carrier (subject to court review).
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The payment of utilities for the period would have what effect on the accounting equation?.
According to the accounting equation theory, the payment of utilities for the period will result in decrease of assets and owners' equity .
According to the accounting equation, the entire assets of a corporation are equal to the sum of its liabilities and shareholders' equity.The payment of utilities for the period is the liability of the company .So if a company will pay for utilities, according to the accounting equation theory, the assets and owners' equity will decrease.
The basic idea behind the double-entry accounting system is that assets, liabilities, and equity have a clear relationship with one another.The accounting equation confirms that the balance sheet stays balanced. In other words, every debit entry should have a corresponding credit entry.
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Obtaining evidence to determine that all inventory, accounts payable, notes payable and expenses are included on the financial statements relates to the ______ assertion.
Obtaining evidence to determine that all inventory, accounts payable, notes payable and expenses are included on the financial statements relates to the completeness assertion.
What is Financial Statement ?
The income statement, balance sheet, and statement of cash flows are the three main sections of the financial statements. These statements are intended to be read collectively in order to provide a thorough view of a company's financial situation and performance. There is a case can be made for each financial statement being the most significant, but the answer ultimately comes down to the user's requirements.
The income statement, which shows a company's potential to make a profit, is likely to be the most crucial financial statement for the majority of users. Additionally, the data on the income statement is largely expressed in current dollars, indicating a respectable level of accuracy.
Since the balance statement does not provide the results of operations and some of the statistics listed there may be dependent on prior costs, the report is likely to be ranked third by many consumers.
The statement of cash flows may be a contender for most crucial financial statement because it only considers changes in cash inflows and outflows.
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The incompatible interests, needs, and desires of diverse groups of people in society can lead to _______________.
The incompatible interests, needs, and desires of diverse groups of people in society can lead to Social conflict.
What is social conflict?The fight for control or authority in society is known as social conflict. Social conflict or group conflict arises when two or more actors oppose one another in social interaction, reciprocally using social power to pursue limited or incompatible goals while obstructing the opponent's progress toward achieving their own.
In this type of social interaction, the action is purposefully directed toward enforcing the actor's own desires in the face of opposition from one or more other parties.
Karl Marx is credited with creating conflict theory, which holds that competition for few resources causes society to be perpetually at war.
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George corporation recognized $1,000 of accrued property taxes on its manufacturing facility. the journal entry to record this debits ______.
In a case whereby George corporation recognized $1,000 of accrued property taxes on its manufacturing facility. the journal entry to record this debits as Manufacturing overhead $1,000 and credits Property taxes payable $1,000.
What is journal entry?A journal entry can be described as an act of keeping which involves the making records of any transactions .
It should be noted that Transactions are listed in an accounting journal so that the company's debit as well as the credit balances of the company can be shown.
In the case, above , we will record this debits as Manufacturing overhead $1,000 and credits Property taxes payable $1,000, hence journal entry can encompass several recordings, in a debit or a credit.
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Suppose market demand and supply are given by qd = 100 - 2p and qs = 5 3p. the equilibrium price is:_________
Suppose market demand and supply are given by QD = 100 - 2p and qs = 5 3p. the equilibrium price is $19.
Demand Equation for equilibriumThe demand Equation for equilibrium says that
Quantity Required = Quantity Delivered. Thus,
100- 2P=5 + 3P
95 = 5P
P= 19
How is the equilibrium price determined?The equilibrium price is the cost at which the quantity ordered equals the quantity provided. It is defined by the intersection of the order and supply curves. A surplus lives if the quantity of a good or service supplied surpasses the quantity required at the current price; it causes a downward force on price.
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Atlantic+bank+is+required+to+hold+10%+of+deposits+as+reserves.+if+the+central+bank+increases+the+discount+rate,+how+would+atlantic+bank+respond?
In this case the Atlantic bank will respond by increasing its bank reserves.
Bank reserves is the minimal amount of cash that financial institutions must keep on hand in order to comply with central bank standards . The purpose of the cash reserve regulations is to make sure that every bank has enough cash on hand to handle any significant and unforeseen demand for withdrawals.
The federal discount rate is the interest rate that the Federal Reserve bank charges banks to borrow money from it.
A higher discount rate makes it more expensive for banks to borrow, which reduces the amount of money available and reduces investment activity. In contrast, a decline in the discount rate lowers the cost of borrowing for commercial banks, which increases the amount of credit that is accessible and lending activity across the economy.
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